The Government Of India And The Law Against Unfair...

1) Currently, the government of India counts on two main laws to solve the issue of corruption, the Criminal Law of the PRC and the Law Against Unfair Competition of the PRC. The first law, also known as common bribery, applies to the bribery of state officials and employees of state owned enterprises, which are most of China’s large companies. Under this law, anyone who demands or accepts money or property in return for benefits is guilty of bribery. The second law is known as commercial bribery. Under this law, businesses are prohibited from giving money or property to customers to sell purchase products. There are no doubts that the laws are somehow controlling the corruption. Without them, the situation in China could be worse.†¦show more content†¦The trouble with China’s bribery laws is that they can be interpreted to apply to any gift at all. The laws need to be clearer about what is wrong and right, as well as the charges for each act that goes against the law. Also, the government needs to create some measures to ensure the enforcement of these laws and guarantee that people who does follow them will have a certain punishment as consequence. It is essential that the authorities be more effective and correct the practices committed by some companies that distort the market and harm the society in general. Therefore, it is not necessary to completely change the current legal framework, only make it less confusing and implement it more rigorously. 2) Corruption is one of the major problems of the globalized world and the effects of it are devastating. Instead of the globalization of the economy having been able to find ways to crack down the corruption, the effects have been the opposite, and it is growing unstoppable. Corruption can ruin countries, distort the market, democracy and human rights, and limit investments, for example, and the only solution to this big problem seems to rely on the ethical and legal instruments of the businesses. Most of the companies, when doing international negotiations, will face corruption at some point. The ethical principles of the company, if correctly implemented, is the factor that will help them make to take the right